On 17 June 2014, the majority of the changes introduced by the Fair Trading Amendment Act 2013 came into force.
A number of the changes will have a significant impact on businesses. These include:
- a requirement for businesses to substantiate representations made to consumers;
- contracting out of the Fair Trading Act for business to business contracts;
- provisions on extended warranties; and
- new rules for certain types of auctions,
with significant increases in penalties for breaches.
Click here for more information, including details of the key changes.
The new unfair contract terms provisions introduced by the Fair Trading Amendment Act 2013 are still to be implemented. These provisions will prohibit the inclusion of unfair contract terms in all standard form consumer contracts entered into after 17 March 2015, and also in those contracts (except insurance contracts) that are renewed or varied after that date.